India now has 71 businesses on Forbes’ Global 2000, up from 55 the year before, making it one of the top five most represented nations and overtaking South Korea and the United Kingdom. The biggest Indian firm in 2024 is Reliance Industries, which is run by billionaire Mukesh Ambani. With revenues of $109 billion in the last 12 months and a market valuation of $233 billion in 2024, it is ranked 49th in the world.
| Rank | Company | Assets | Market Value |
| 1 | Reliance Industries | $210.5 B | $233.1 B |
| 2 | SBI | $807.4 B | $87.6 B |
| 3 | HDFC Bank | $483.2 B | $133.6 B |
| 4 | Life Insurance Corporation | $561.4 B | $73.6 B |
| 5 | ICICI | $283.5 B | $95.3 B |
| 6 | Oil and Natural Gas | $80.6 B | $41.9 B |
| 7 | Indian Oil | $57.8 B | $27.8 B |
| 8 | Tata Motors | $44.4 B | $43.8 B |
| 9 | Axis Bank | $182 B | $42.3 B |
| 10 | NTPC | $54.7 B | $42.5 B |
1. Reliance Industries
A prominent Indian multinational company with its headquarters located in Mumbai, Reliance Industries serves a wide range of industries, including mass media, telecommunications, energy, petrochemical products, natural gas, commerce, entertainment, and textiles.
Jio, RIL’s telecom division, upended the industry with reasonably priced data and connections, sparking a digital revolution and changing the digital landscape of India. Reliance Retail, its retail division, is the biggest in India and operates in the groceries, electronics, and fashion sectors. A major contributor to India’s green energy revolution, the corporation has made large investments in solar energy, hydrogen, and renewable energy technology and expects to reach net-zero carbon emissions by 2035.
2. State Bank of India
SBI, the biggest public bank and statutory authority for financial services, is based in Mumbai and is well-represented in both urban and rural regions. Personal banking, corporate banking, international banking, agricultural banking, and NRI services are just a few of the many banking and financial services it provides.
The bank is essential to India’s economic growth since it offers reasonably priced loans for housing, education, and agriculture while promoting financial inclusion with programs like Jan Dhan accounts. It is also a pioneer in funding green energy and infrastructure initiatives.
SBI, a Fortune Global 500 corporation, has a significant influence on the development of the banking industry in India. Maintaining its standing as a reliable financial institution, it is dedicated to sustainability and innovation and keeps developing by embracing digital transformation and improving customer-centric services.
3. HDFC Bank
The third-largest bank in India, HDFC Bank is currently the biggest bank in the country and the eighth-largest bank worldwide. It offers a broad variety of financial products and services and has a significant presence in both corporate and retail banking.
HDFC Bank provides a wide range of services, such as wealth management, credit cards, loans, personal and business banking, and more. Serving both people and companies, it leads the retail lending industry for home, auto, and personal loans. Being a pioneer in India’s digital banking revolution, its digital banking platforms—such as internet and mobile banking—offer smooth and safe financial services.
Known for its sound financial standing, HDFC Bank continuously maintains good credit ratings and produces solid financial results. It is a major force in advancing sustainable banking, including programs that assist social welfare, financial literacy, and renewable energy.
4. Life Insurance Corp. of India (LIC)
The biggest public-sector life insurance, insurance, and institutional investor company in India, LIC is based in Mumbai and provides life insurance schemes, pension plans, mutual funds, asset management, and more. Since going public in 2022, the company has seen a significant increase in profits and market valuation.
LIC provides a broad range of insurance products, including unit-linked insurance plans (ULIPs), health insurance, life insurance, and pension plans. Its insurance includes everything from risk coverage and retirement planning to savings and investments. LIC has gained the confidence of millions of Indians over the years due to its classic schemes and consistent payments.
LIC is a major contributor to the economic growth of India as one of the biggest institutional investors in the country, helping to finance development and infrastructure projects. Additionally, it now operates in nations including the UK, Singapore, and the Gulf area, further increasing its global footprint.
5. ICICI Bank
ICICI Bank, the second-biggest private multinational bank and financial services provider in India, is well-known for offering a wide range of financial services, including wealth management, corporate banking, and retail banking. It has a registered office in Vadodara, and its headquarters are in Mumbai.
Today, ICICI Bank has a substantial global presence in major financial centers, including the US, UK, Singapore, and Dubai, in addition to its extensive network of more than 5,000 branches and 15,000 ATMs throughout India.
The bank provides a wide range of services, such as wealth management, corporate and investment banking, and personal banking. Along with its credit card products, it is also well-known for its retail lending products, which include personal, auto, and home loans. With intuitive tools like iMobile and online banking that provide smooth, safe, and convenient services, ICICI Bank has been a leader in embracing digital change.
6. Oil & Natural Gas
The largest government-controlled oil and gas producer in India, ONGC, is a major force in the energy industry, producing 84% of the country’s natural gas and 70% of its crude oil. The Ministry of Petroleum and Natural Gas is in charge of running the corporation, which has its headquarters in Delhi and is owned by the Government of India.
A key contributor to India’s energy needs, ONGC is a public sector enterprise (PSU) that produces the bulk of the nation’s natural gas and crude oil. It works on all stages of the value chain, from hydrocarbon discovery and production to refinement and commercialization. The business is well represented abroad, holding investments in energy projects in more than 15 nations.
As part of its dedication to sustainability, ONGC is also a pioneer in renewable energy, investing in geothermal, solar, and wind energy projects. HPCL is a downstream subsidiary that conducts refining and retail operations, whereas ONGC Videsh, a subsidiary, is in charge of its worldwide exploration and production activities.
7. Indian Oil
The biggest international oil and gas corporation and commercial firm in India is Indian Oil Corporation Limited, sometimes referred to as IndianOil. With its main office in New Delhi, the corporation, which is owned by the Indian government and is administered by the Ministry of Petroleum and Natural Gas, is engaged in the marketing and refining of petroleum products.
Indian Oil, which runs the biggest network of refineries, pipelines, and gasoline retail locations in the country, is essential to supplying India’s energy needs. Under the Servo brand, it oversees 11 refineries that produce a variety of petroleum products, including LPG, diesel, gasoline, aviation fuel, and lubricants, with a combined annual capacity of approximately 80 million metric tons.
The business supports India’s energy revolution by investing in solar power, biofuels, and hydrogen fuel, making it a pioneer in renewable energy projects. In order to expand its worldwide presence, Indian Oil now sells petroleum products to a number of foreign markets.
8. Tata Motors
Tata Motors Limited, headquartered in Mumbai, is an Indian multinational automotive firm. The firm makes automobiles, trucks, cars, and buses. Its subsidiaries comprise British Jaguar Land Rover as well as South Korean Tata Daewoo.
The world’s most economical automobile, the Tata Nano, and India’s first domestically produced passenger vehicle, the Tata Indica, are both products of Tata Motors, a company renowned for its engineering prowess and inventiveness. Popular cars, including the Tata Safari, Harrier, and Nexon, are part of its lineup. It has also led the way in India’s electric vehicle (EV) sector. Commercial vehicles from Tata Motors dominate markets both domestically and internationally and are well known for their dependability and performance.
The business has a significant presence in Southeast Asia, the Middle East, Africa, and Europe. Its global presence and selection of luxury cars have been greatly expanded with its 2008 acquisition of Jaguar Land Rover (JLR).
9. Axis Bank
One of the biggest banks in the private sector, Axis Bank specializes in offering financial services to SMEs and large and mid-sized businesses. Customers around India can choose from a variety of financial products and services offered by the bank. In order to provide a smooth and intuitive experience and meet a range of institutional, corporate, and retail demands, it places a high priority on digital banking.
The bank provides a broad variety of financial services and products, such as wealth management, investment banking, retail and corporate banking, and treasury operations. It leads the retail banking industry and offers a robust selection of credit cards, home loans, personal loans, and savings accounts. With platforms like Axis Mobile and Internet Banking, Axis Bank offers smooth services, making it a major participant in digital banking as well.
Axis Bank provides reasonably priced banking services in rural and semi-urban areas with an emphasis on financial inclusion. It actively participates in green banking and renewable energy projects, among other environmental efforts.
10. NTPC
NTPC, the largest thermal power generation public corporation in India, is headquartered in New Delhi and makes a substantial installation and output contribution to the nation’s energy and power production, with an emphasis on sustainability efforts.
NTPC, which is well-known for its operational competence, continuously provides dependable and reasonably priced energy while upholding strict environmental and social responsibility standards. In line with India’s energy transformation objectives, it has increased its emphasis on renewable energy with the goal of achieving a 60 GW capacity from solar, wind, and green hydrogen by 2032.
Additionally, NTPC is engaged in cutting-edge projects including energy storage systems, carbon capture, and infrastructure for electric vehicle charging. With an emphasis on lowering its carbon footprint and increasing energy efficiency throughout its activities, the organization is dedicated to sustainability.
